Apotex released a statement Saturday saying that the Sherman family was disturbed by the reports.

"We are shocked and think it's irresponsible that police sources have reportedly advised the media of a theory which neither their family, their friends nor their colleagues believe to be true," said the statement, which was attributed to the family of Barry and Honey Sherman.

"We urge the Toronto Police Service to conduct a thorough, intensive and objective criminal investigation, and urge the media to refrain from further reporting as to the cause of these tragic deaths until the investigation is completed," it said.

Sherman founded generic drugmaker Apotex in 1974, building it into one of the world's largest pharmaceutical makers. It has annual sales of more than C$2 billion in more than 45 countries, according to its website.

He stepped down as CEO in 2012, but stayed on as chairman.

Sherman was involved in a series of lawsuits, including a decade-long battle with cousins seeking compensation over allegations he cut them out of the company that would make him rich.

The Shermans, who had four children, were major donors to hospitals, universities and Jewish organistions.

Honey Sherman sat on the boards of several hospital, charitable and Jewish foundations, and last month was awarded a Senate medal for community service.

She immigrated to Canada as a child when Jewish Immigrant Aid Services relocated her family shortly after the Holocaust, according to a profile of the couple on the Jewish Foundation of Greater Toronto's website.